Legal & General Group Plc Acquires New Position in Penguin Solutions, Inc. $PENG

Legal & General Group Plc bought a new position in shares of Penguin Solutions, Inc. (NASDAQ:PENG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 105,178 shares of the company’s stock, valued at approximately $7,995,000. Legal & General Group Plc owned 0.21% of Penguin Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PENG. Global Retirement Partners LLC bought a new position in Penguin Solutions in the second quarter worth approximately $26,000. Farther Finance Advisors LLC raised its position in Penguin Solutions by 187.0% during the 4th quarter. Farther Finance Advisors LLC now owns 1,452 shares of the company’s stock valued at $28,000 after purchasing an additional 946 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Penguin Solutions during the 4th quarter valued at $29,000. Allworth Financial LP purchased a new stake in shares of Penguin Solutions in the 2nd quarter worth $37,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Penguin Solutions in the 2nd quarter worth $37,000.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup restated an “outperform” rating on shares of Penguin Solutions in a research note on Wednesday, July 8th. Needham & Company LLC increased their target price on shares of Penguin Solutions from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Weiss Ratings raised shares of Penguin Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Rosenblatt Securities boosted their price target on shares of Penguin Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Wall Street Zen cut shares of Penguin Solutions from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.33.

Penguin Solutions Trading Down 3.0%

Shares of NASDAQ:PENG opened at $47.59 on Wednesday. The business’s 50-day moving average is $59.80 and its 200 day moving average is $43.54. Penguin Solutions, Inc. has a 1 year low of $16.04 and a 1 year high of $89.86. The firm has a market capitalization of $2.44 billion, a P/E ratio of 33.75 and a beta of 2.87. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.10.

Penguin Solutions (NASDAQ:PENG) last released its quarterly earnings results on Tuesday, July 7th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.21. Penguin Solutions had a return on equity of 28.23% and a net margin of 6.44%.The company had revenue of $478.71 million during the quarter, compared to analysts’ expectations of $407.47 million. During the same period last year, the business posted $0.52 earnings per share. On average, research analysts predict that Penguin Solutions, Inc. will post 2.08 earnings per share for the current fiscal year.

Insider Activity at Penguin Solutions

In other Penguin Solutions news, SVP Anne Kuykendall sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $64.38, for a total transaction of $257,520.00. Following the sale, the senior vice president owned 120,794 shares of the company’s stock, valued at approximately $7,776,717.72. The trade was a 3.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Gates Clark sold 1,327 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $57.47, for a total transaction of $76,262.69. Following the transaction, the senior vice president owned 63,056 shares in the company, valued at $3,623,828.32. The trade was a 2.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,327 shares of company stock valued at $536,103 over the last ninety days. 2.90% of the stock is currently owned by insiders.

Penguin Solutions Company Profile

Penguin Solutions, Inc engages in the designing and development of enterprise solutions worldwide. It operates through three segments: Advanced Computing, Integrated Memory, and Optimized LED. It offers dynamic random access memory modules, solid-state and flash storage, and other advanced integrated memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.